Home Depot
HD · NYSERetail-Lumber & Other Building Materials Dealers · Fiscal year ends Jan 31
Home Depot reported revenue of $165B in the fiscal year ended Feb 2026, up 3.2% from the year before. Operating income was $20.9B, an operating margin of 12.7%, and net income was $14.2B. Operating cash flow of $16.3B less capital expenditure of $3.7B left free cash flow of $12.6B. Net debt was $48B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Jan 2022 | Jan 2023 | Jan 2024 | Feb 2025 | Feb 2026 |
|---|---|---|---|---|---|
| Revenue | $151B | $157B | $153B | $160B | $165B |
| Cost of revenue | $100B | $105B | $102B | $106B | $110B |
| Gross profit | $50.8B | $52.8B | $51B | $53.3B | $54.9B |
| Selling, general & admin | $25.4B | $26.3B | $26.6B | $28.7B | $30.7B |
| Operating income | $23B | $24B | $21.7B | $21.5B | $20.9B |
| Interest expense | $1.3B | $1.6B | $1.9B | $2.3B | $2.4B |
| Pre-tax income | $21.7B | $22.5B | $19.9B | $19.4B | $18.6B |
| Income tax | $5.3B | $5.4B | $4.8B | $4.6B | $4.4B |
| Net income | $16.4B | $17.1B | $15.1B | $14.8B | $14.2B |
| Diluted EPS | 15.53 | 16.69 | 15.11 | 14.91 | 14.23 |
| Diluted shares | 1,058M | 1,025M | 1,002M | 993M | 995M |
Balance sheet
| Fiscal year | Jan 2022 | Jan 2023 | Jan 2024 | Feb 2025 | Feb 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | $2.3B | $2.8B | $3.8B | $1.7B | $1.4B |
| Receivables | $3.4B | $3.3B | $3.3B | $4.9B | $5.6B |
| Inventory | $22.1B | $24.9B | $21B | $23.5B | $25.8B |
| Current assets | $29.1B | $32.5B | $29.8B | $31.7B | $34.4B |
| Net PP&E | $25.2B | $25.6B | $26.2B | $26.7B | – |
| Goodwill | $7.4B | $7.4B | $8.5B | $19.5B | $22.3B |
| Total assets | $71.9B | $76.4B | $76.5B | $96.1B | $105B |
| Payables | $13.5B | $11.4B | $10B | $11.9B | $11.5B |
| Deferred revenue | $2.6B | $2B | $1.7B | $1.5B | $1.5B |
| Current liabilities | $28.7B | $23.1B | $22B | $28.7B | $32.4B |
| Short-term debt | – | – | $0 | – | – |
| Long-term debt | $36.4B | $41.2B | $42.2B | $51.4B | $49.4B |
| Total liabilities | $73.6B | $74.9B | $75.5B | $89.5B | $92.3B |
| Shareholders' equity | −$1.7B | $1.6B | $1B | $6.6B | $12.8B |
| Backlog (remaining obligations) | $1B | $1.1B | $1.1B | $1.1B | $1.1B |
Cash flow
| Fiscal year | Jan 2022 | Jan 2023 | Jan 2024 | Feb 2025 | Feb 2026 |
|---|---|---|---|---|---|
| Operating cash flow | $16.6B | $14.6B | $21.2B | $19.8B | $16.3B |
| Capital expenditure | $2.6B | $3.1B | $3.2B | $3.5B | $3.7B |
| Free cash flow | $14B | $11.5B | $17.9B | $16.3B | $12.6B |
| Depreciation & amortisation | $2.9B | $2.8B | $3.1B | $3.3B | $3.5B |
| Stock-based compensation | $399M | $366M | $380M | $442M | $522M |
| Acquisitions | $421M | $0 | $1.5B | $17.6B | $5.4B |
| Share buybacks | $14.8B | $6.7B | $8B | $649M | $0 |
| Dividends paid | $7B | $7.8B | $8.4B | $8.9B | $9.2B |
| Dividend per share | 6.60 | 7.60 | 8.36 | 9.00 | 9.20 |
Key ratios
| Fiscal year | Jan 2022 | Jan 2023 | Jan 2024 | Feb 2025 | Feb 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 4.1% | −3.0% | 4.5% | 3.2% |
| Operating income growth (YoY) | – | 4.3% | −9.8% | −0.8% | −3.0% |
| EPS growth (YoY) | – | 7.5% | −9.5% | −1.3% | −4.6% |
| Gross margin | 33.6% | 33.5% | 33.4% | 33.4% | 33.3% |
| Operating margin | 15.2% | 15.3% | 14.2% | 13.5% | 12.7% |
| Net margin | 10.9% | 10.9% | 9.9% | 9.3% | 8.6% |
| Return on equityBlank when equity is negative | – | 1095.1% | 1450.5% | 223.0% | 110.5% |
| ROCEEBIT ÷ (assets − current liabilities) | 53.4% | 45.1% | 39.8% | 31.9% | 28.7% |
| Free cash flow margin | 9.3% | 7.3% | 11.8% | 10.2% | 7.7% |
| Cash conversion (CFO ÷ net income) | 1.01x | 0.85x | 1.40x | 1.34x | 1.15x |
| Receivable days | 8 | 8 | 8 | 11 | 12 |
| Inventory days | 80 | 87 | 75 | 81 | 86 |
| Payable days | 49 | 40 | 36 | 41 | 38 |
| Interest cover | 17.1x | 14.9x | 11.2x | 9.27x | 8.66x |
| Debt ÷ equity | – | 26.3x | 40.4x | 7.74x | 3.86x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $34.1B | $38.4B | $38.4B | $49.7B | $48B |
| Current ratio | 1.01x | 1.41x | 1.35x | 1.11x | 1.06x |
Recent filings
More in Retail-Lumber & Other Building Materials Dealers
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.